NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 2,061.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,341,156 shares of the computer hardware maker’s stock after purchasing an additional 1,279,113 shares during the quarter. NVIDIA comprises about 3.7% of Citizens Financial Group Inc. RI’s holdings, making the stock its 6th largest position. Citizens Financial Group Inc. RI’s holdings in NVIDIA were worth $165,686,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA during the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the first quarter valued at $27,000. HBC Financial Services PLLC acquired a new position in NVIDIA in the first quarter valued at $30,000. Norwood Financial Corp acquired a new position in NVIDIA in the first quarter valued at $45,000. Finally, Coston McIsaac & Partners boosted its holdings in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NVDA. KeyCorp lifted their target price on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, August 6th. Westpark Capital boosted their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Evercore ISI boosted their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Mizuho lifted their target price on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total value of $14,068,800.00. Following the completion of the sale, the chief executive officer now directly owns 78,054,995 shares in the company, valued at $9,151,167,613.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total value of $14,068,800.00. Following the completion of the transaction, the chief executive officer now directly owns 78,054,995 shares in the company, valued at $9,151,167,613.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,996,270 shares of company stock worth $347,729,127. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $138.00 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $121.88 and a 200-day simple moving average of $112.35. The company has a market cap of $3.39 trillion, a PE ratio of 64.73, a P/E/G ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.89.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. On average, equities research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.